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Entries in Dodd-Frank (20)


U.S. House Passes Bill to Repeal and Replace Dodd-Frank Act

On Thursday, June 8, the U.S. House of Representatives passed the Financial Choice Act.  The Act, which was approved along mostly party lines, would repeal and replace most of the financial regulations contained in the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.  Supporters of the Act argued that, by easing financial regulations imposed after the 2008 financial crisis, economic growth would be spurred. 

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Optional Template Issued for Holding Companies to File Resolution Plans

On August 29, 2013, the FDIC and Federal Reserve Board issued an optional template for certain holding companies to file their “resolution plans,” which are detailed descriptions of how a covered institution plans to deal with financial stress that threatens the viability of the institution.

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Feds Revise Risk Retention Rules For Securitization Transactions

On August 28, 2013, six federal agencies issued a press release announcing a new rulemaking to implement the risk retention rules set forth in Section 15G of the Dodd-Frank Act regarding securitization transactions. The purpose of the new rulemaking is to update the rule originally proposed by the agencies in April, 2011. The FDIC’s press release can be found here.

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CFPB Issues Small Entity Compliance Guide on Ability-to-Repay and Qualified Mortgage Rule

The Consumer Financial Protection Bureau (“CFPB”) recently issued a Small Entity Compliance Guide on the Ability-to-Repay and Qualified Mortgage Rule (the “Rule”). The Rule was issued under Dodd-Frank. The Guide provides an overall summary of the Rule and discusses application of the Rule in a Q&A format. The CFPB issued the final rule on January 10, 2013, with an effective date of January 10, 2014.

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Executive Compensation Reporting After Dodd-Frank

Financial institutions are subject to numerous rules governing compensation, including a number we have discussed in prior blog entries.  Among the new regulatory developments arising from Dodd-Frank are new disclosure requirements with respect to compensation paid to executives who work at SEC-reporting companies.  One example is the “say-on-pay” rule promulgated by the Securities and Exchange Commission (“SEC”), which is already impacting SEC-reporting financial institutions.  Additional requirements are already in the SEC’s pipeline.  Greg Fryer and Gabriel Weiss, members of Verrill Dana's Securities Law Group, have written an article on recent developments in executive compensation disclosures under Dodd-Frank, applicable to SEC-reporting institutions.  In their article, Executive Compensation Reporting After Dodd-Frank: Where We Came From and Where We Are Heading, the authors discuss the evolution of executive compensation reporting requirements and a look at additional future complexities that will be coming down the road.